This job is OPEN for ALL Nationalities to Apply, unless otherwise specified.
Job Requisition ID: 155679
Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United A”rab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organisation to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.
By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day.
We are currently seeking an experienced treasury professional to join our Global Treasury Center in the capacity Senior Manager Treasury – Compliance & Control.
Overview of the role
Senior Manager – GRCT shall assist The Head – GRCT in establishing and monitoring governance and compliance norms pertaining to Al Futtaim Group’s Treasury function and undertake transformation projects, manage all aspects of treasury reporting, financial risks, policies, and SOPs in order to establish and implement Global best practices and achieve Group’s strategic initiatives.
In conjunction with the other functions within the Global Treasury Centre, the Senior Manager- GRCT shall work with Head – GRCT for activities including:
Manage all aspect of Treasury Policies including developing new policies and ensuring full compliance of relevant policies.
Manage all aspects of Treasury governance including SLAs, SOPs, DOAs and RACIs. Work with other functions within Global Treasury Centre (GTC) including Treasury Back Office Tower (TBOT) to develop, communicate and ensure compliances of all governance related matters.
Provide timely reporting to Al Futtaim Group Senior management on Counterparty risk exposure, Inhouse bank exposure, Forex exposures, Cash, debt, Trade Finance, treasury costs and income and support financial risk mitigation strategies within the group’s risk appetite.
Identify initiatives, develop and action roll out plans for treasury operating model, treasury, and risk management systems (SAP S4 Hana), market information system (Bloomberg, Reuters) and lead improvement of treasury processes. Support projects such as Cash Pooling, TRM rollout, SWIFT implementation etc.
Manage all aspects of treasury compliance and function as a treasury point of contact for all internal and external audit support. Assist in ensuring compliance of all treasury / banking related regulatory requirements.
What you will do
Strategy and Policy
Execute amendments and updates to the group’s treasury strategy and strategic guidelines.
Translate group wide strategic treasury objectives into a Target Treasury Operating Model (TTOM) with inputs from Divisions and other key internal stakeholders and the wider Group Finance community.
Develop group wide treasury policies (umbrella policies) covering all functional areas under Treasury’s remit.
Review financial risk management strategies and policy amendments proposed by treasury functional heads and provide feedback on their potential impact on group’s risk profile and financial performance.
Roll-out and communicate relevant policies to all divisions and regions – including stand-alone finance and treasury functions.
Governance and Control
Develop and monitor SLAs and SOPs to govern best in class treasury activities in coordination with GTC front office functions, divisions, and business units.
Review of existing and amendments to banking delegation of authorities (DOA) and bank account administration.
Ensure compliance with SLAs and RACIs agreed with divisions.
Maintain governance of internal meetings with Group CFO, Group Treasurer and Divisional Finance teams.
Financial Risk Management and Reporting
Provide timely reporting to AFG Senior Management for all treasury exposures such as Counterparty risks, Central Funding, Cash, Debt, Forex, interest income and cost.
Develop monthly / quarterly management reports and dashboards for treasury reporting including monthly Global Treasury Reports and Bi-monthly Management Committee reports.
Setup group wise KPIs for all treasury functions.
Implement system-based measurement and reporting for established KPIs, promote system-based reporting automation in coordination with EIT.
Management and financial controlling of Inhouse bank (IHB) portfolio of internal loans and deposits. Ensuring that all IHB exposures are properly recorded in TRM and structured in compliance with treasury policies.
Ensure that all IHB transactions are executed within pre-agreed limits, as per DOA and properly documented as per treasury policies.
Analyze risk management (hedging) transaction execution (Eg., pricing, hedge ratios, counter party diversification and speed of execution) to ensure compliance with SLAs.
Compliance
Perform analysis to ensure compliance with policies and report to senior management.
Issue debt covenant compliance report.
Ensure compliance with treasury/banking-related regulatory requirements.
Function as the key treasury point of contact for internal and external audit support.
Treasury Transformation
Propose and lead initiatives for the improvement and standardization of treasury processes.
Liaise with transformation team for alignment with overall transformation objectives and related projects
Provide project management support in key treasury initiatives and automations such as cash Pooling, Swift Rollout, Central Funding, Supply chain finance (SCF) and other initiatives.
Required skills to be successful
Advanced Analytical
Knowledge of banking and treasury
Hedging and trade finance
Process controls
Good communication skills
Exposure to ERP (especially SAP TRM) and Power BI
What equips you for the role
Bachelor’s degree, CA, CFA, CPA or similar.
Treasury coursework (ACT or similar) beneficial.
At least 3-5 years’ relevant experience within a large organization managing treasury operations and controls
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